Why Is Palantir Stock Falling on Thursday?
Palantir Technologies Inc (NASDAQ: PLTR ) stock fell on Thursday, primarily due to short-term profit-taking following a multi-day rally. The movement extended falling momentum from Wednesday. The stock turned red on Wednesday despite gaining in early trading following Monday’s financial report. Nasdaq futures down 0.79% while S&P 500 futures have gained 0.03%. Second-Quarter Earnings Beat For the second quarter, Palantir reported year-on-year revenue growth of 93% to $1.94 billion, beating expectations by approximately $136 million. Adjusted earnings reached 41 cents per share, topping consensus estimates of 30 cents. U.S. clients accounted for 38 of 44 new customers. DA Davidson analyst Gil Luria reiterated a Buy rating and raised his price forecast from $175 to $200. Luria wrote, “Palantir has several competitive advantages over all other software companies, which is bec...
Palantir Technologies Inc (NASDAQ: PLTR ) stock fell on Thursday, primarily due to short-term profit-taking following a multi-day rally. The movement extended falling momentum from Wednesday. The stock turned red on Wednesday despite gaining in early trading following Monday’s financial report. 03%.
94 billion, beating expectations by approximately $136 million. Adjusted earnings reached 41 cents per share, topping consensus estimates of 30 cents. S. clients accounted for 38 of 44 new customers.
DA Davidson analyst Gil Luria reiterated a Buy rating and raised his price forecast from $175 to $200. ” Read Also: Stock Market Today: Dow Futures Gain, Nasdaq 100 Slips as Hormuz Deal Talks Progress—SpaceX, SanDisk, AppLovin in Focus Bearish Short Positions Conversely, investor Michael Burry stated in a Wednesday Substack post, “I continue to believe it is possible we are near a major top, and possible a 1987-type fall,” while maintaining short positions in Palantir and Tesla Inc (NASDAQ: TSLA ). 42), which tells you the intermediate trend has been strong. 44), keeping the stock close to a key "line in the sand" that many longer-term traders watch.
Momentum is leaning constructive: MACD is above its signal line and the histogram is positive, which points to improving upside pressure versus the prior downswing. The moving-average structure is mixed, and that’s the main longer-term tension to watch. The 20-day SMA is above the 50-day SMA (bullish), but the 50-day SMA remains below the 200-day SMA after the death cross in February, which is a reminder that the bigger-picture trend only recently started trying to repair. 75 at the time of publication on Thursday, according to Pro data.
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